U.S. consumer debt falls; Consumer prices rise
The New York Times reports that Americans trimmed their overall indebtedness in the latest quarter. Total consumer debt stood at $11.15 trillion in the second quarter, down 0.7 percent from the previous quarter. Reuters reports that U.S. consumer prices rose 0.2 percent as expected in July, which could comfort Federal Reserve officials worried about low inflation as they weigh trimming their massive bond buying program.
Hyundai, Kia recall about 270,000 U.S. vehicles
Reuters reports that Hyundai Motor Co. is recalling about 240,000 older model Sonata and Azera sedans in cold-weather U.S. states due to possible corrosion that can affect rear wheel alignment. In two other recalls, about 20,300 Hyundai Santa Fe Sport model year 2013 and 9,345 Kia Motors Corp. model year 2014 Sorrento crossover vehicles were recalled due to possible problems with the right front axle.
Berkshire Hathaway's new stock holdings
Reuters reports that Berkshire Hathaway Inc. took new positions in Canada's Suncor Energy Inc. and U.S. satellite TV company Dish Network Corp. in the second quarter, according to a regulatory filing. Warren Buffet's company disposed of 1.7 million shares, or $38 million worth, of stock in Gannett Co., which owns The Des Moines Register. Berkshire also raised its stake in General Motors Co. by 60 percent and its holding in Wells Fargo & Co. by 1.1 percent.